In The Style Group PLC - Manchester-based e-commerce womenswear fashion brand - Says it has launched FITS, a collection of own-brand wardrobe staples, which will provide additional opportunities to engage with customers and increase sales outside of the firm's traditional influencer campaign launch cycle. Additionally, In The Style has moved operations to a larger 84,000 square feet warehouse at the end of August. Says net cash amounts to GBP4.3 million as at September 21, in line with expectations.
Says good progress has been made in optimising stock buys, in line with its strategic focus on increasing the proportion of full-price sales. "It is expected that these buy quantity reductions will benefit the level of gross margin generated by the group from October 2022", In The Style says.
Chief Executive Officer Sam Perkins says: "As has been widely reported, the trading environment is a challenging one for both consumers and retailers. The launch model and our position as a pure-play online retailer allows us to respond quickly to changing consumers."
Current stock price: 26.10 pence, down 1.5%
12-month change: down 87%
By Xindi Wei; xindiwei@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
